What information do serial numbers in currency contain? What are the principles of managing serial numbers in the currency printing process in Vietnam from May 14, 2024?
- Vietnam: What information do serial numbers in currency contain?
- What are the principles of managing serial numbers in the currency printing process in Vietnam from May 14, 2024?
- Vietnam: What are the procedures for management of newly printed serial numbers during the currency delivery and receipt process?
Vietnam: What information do serial numbers in currency contain?
On March 29, 2024, the State Bank of Vietnam issued Circular 01/2024/TT-NHNN, which regulates the management of serial numbers in currency printed by the State Bank of Vietnam.
Pursuant to Article 3 of Circular 01/2024/TT-NHNN, the serial numbers are explained as follows:
Definition of terms
In this Circular, the following terms are understood as follows:
1. The term "serial numbers" refers to the combination of two of the 26 letters (including: A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z). Serial numbers include the main serial and the sub-serial.
2. The main serial is the serial number used to print on currency notes according to the quantity and structure of currency printing annually.
3. The sub-serial is the serial number used to print on currency notes as replacements for damaged currency notes.
4. Serial numbers consist of the serial and a natural number sequence with the number of digits specified in Clause 1, Article 5 of this Circular.
5. The symbol is the elements recorded on the sealing of new printed currency packages or other packaging specifications as prescribed by the State Bank of Vietnam. The symbol includes the printing or minting facility, type of currency, serial, package serial number, year of production, name or identification number of the packer, and other elements according to the production process of the printing or minting facility.
6. New printed currency refers to sealed currency notes manufactured by the printing or minting facility according to the packaging specifications prescribed by the State Bank of Vietnam.
In addition, Clause 1, Article 5 of Circular 01/2024/TT-NHNN stipulates:
Principles of printing and managing serial numbers in the currency printing process of the printing or minting facility.
1. Principles of printing serial numbers in the currency printing process:
a) For types of currency announced by the State Bank of Vietnam for issuance before 2003, serial numbers consist of the serial and a natural number sequence of 7 digits starting from 0000001;
b) For types of currency announced by the State Bank of Vietnam for issuance from 2003 onwards, serial numbers consist of the serial and a natural number sequence of 8 digits. Specifically, the two digits adjacent to the serial are the last two digits of the year of currency note production, and the following 6 digits are a natural number sequence starting from 000001;
c) Each currency note has its own serial number.
Therefore, by looking at the serial number, we can obtain some information such as:
- Serial: the combination of two of the 26 letters (including: A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z).
- Time of currency note issuance:
+ Issued before 2003: serial numbers consist of the serial and a natural number sequence of 7 digits starting from 0000001.
+ Issued from 2003 onwards: serial numbers consist of the serial and a natural number sequence of 8 digits. Specifically:
++ The two digits adjacent to the serial are the last two digits of the year of currency note production.
++ The following 6 digits are a natural number sequence starting from 000001.
What information do serial numbers in currency contain? What are the principles of managing serial numbers in the currency printing process in Vietnam from May 14, 2024? (Image from the Internet)
What are the principles of managing serial numbers in the currency printing process in Vietnam from May 14, 2024?
Pursuant to Article 2, Article 5 of Circular 01/2024/TT-NHNN, the principles of managing serial numbers in the currency printing process of the printing or minting facility are as follows:
- The printing or minting facility prints the serial numbers on currency notes according to the principles of printing serial numbers in the currency printing process mentioned above;
+ In case damaged currency notes are discovered after the printing of the serial numbers, the printing or minting facility must use replacement currency notes;
+ The principles of using replacement currency notes are implemented according to the regulations of the printing or minting facility specified in Article 2, Article 9 of Circular 01/2024/TT-NHNN;
- The printing or minting facility organizes the storage and management of information about serial numbers for each type of currency (including replacements), ensuring the accuracy and completeness of the elements recorded on the sealing of new printed currency packages or other packaging specifications prescribed by the State Bank of Vietnam. These elements include the printing or minting facility, type of currency, serial, package serial number, year of production.
Documents related to serial numbers are stored at the printing or minting facility according to the regulations of the printing or minting facility specified in Article 2, Article 9 of Circular 01/2024/TT-NHNN.
Thus, the use of sub-serial to replace and store documents about serial numbers are carried out according to the regulations on the management, use, and storage of serial numbers in the production process at the printing or minting facility, which are issued by the printing or minting facility and sent to the State Bank of Vietnam (Department of Issuance and Treasury) within 10 days from the date of issuance of the regulations
Currently, the principles of printing and managing serial numbers in the currency printing process are regulated in Article 4 of the Regulations issued together with Decision 28/2007/QD-NHNN as follows: - The printing of serial numbers in the currency printing process is carried out according to the following principles: + For types of currency announced by the State Bank for issuance before 2003, serial numbers consist of the serial and a natural number sequence of 7 digits starting from 0000001. + For types of currency announced by the State Bank for issuance from 2003 onwards, serial numbers consist of the serial and a natural number sequence of 8 digits. Specifically, the two digits adjacent to the serial are the last two digits of the year of currency note production, and the following 6 digits are a natural number sequence starting from 000001. - The management of serial numbers in the currency printing process of the currency printing facility + The currency printing facility carries out the bundling, packaging, and sealing of currency notes according to the technological process of the facility and keeps a record of the serial numbers for each type of currency, ensuring the accuracy and completeness of the elements: used serial numbers (including replacements), type of currency, year of production, symbol of the package, package serial number. In case of printing errors (discovered after the printing of the serial numbers), the currency printing facility must record the use of replacement currency notes according to the correct technological process of currency printing. + Documents related to serial numbers and the record of serial numbers are kept at the currency printing facility according to the technological process of currency printing of the facility. |
Vietnam: What are the procedures for management of newly printed serial numbers during the currency delivery and receipt process?
Pursuant to Article 6 of Circular 01/2024/TT-NHNN, the management of newly printed serial numbers during the currency delivery and receipt process is as follows:
- During the currency delivery and receipt process
+ The printing or minting facility delivers the newly printed currency to the State Bank (Department of Issuance and Treasury); delivers the newly printed currency between Central Currency Vaults; delivers the newly printed currency between Central Currency Vaults and branches of the State Bank or Trading Departments; delivers the newly printed currency between branches of the State Bank.
+ The delivering party must create a list of serial numbers for each type of currency according to the regulations stated in point c, clause 1 of Article 6 of Circular 01/2024/TT-NHNN, along with a delivery receipt or an export voucher.
+ The receiving party is responsible for checking and comparing the content of the list with the actual delivery and receipt.
+ In case of discrepancies, the receiving party must notify the delivering party to make necessary adjustments and ensure alignment with the actual delivery and receipt.
+ When transferring newly printed currency from the Issuance Reserve Fund to the Operational Issuance Fund at the branch of the State Bank and vice versa, the warehouse keeper of the delivering party creates a list of serial numbers for each type of currency according to the regulations stated in point c, clause 1 of Article 6 of Circular 01/2024/TT-NHNN.
+ The warehouse keeper of the receiving party is responsible for checking and comparing the content of the list with the actual delivery and receipt.
+ In case of discrepancies, the receiving party must notify the delivering party to make necessary adjustments and ensure alignment with the actual delivery and receipt.
+ The list of serial numbers is signed by the warehouse keeper of the delivering party and must accurately reflect the following elements: delivering party, receiving party, type of currency, quantity, serial numbers, year of production, symbol of the package, package serial number, or other packaging specifications as determined by the State Bank.
This list is prepared in duplicate, with each party holding one copy.
- Responsibility for monitoring, managing, and storing information on newly printed serial numbers:
+ The delivering party and the receiving party are responsible for monitoring, managing, and storing information on the serial numbers of the delivered and received sealed packages of newly printed currency at their respective units.
+ When the Trading Department or branch of the State Bank exports newly printed currency in sealed packages to credit institutions, branches of foreign banks, the State Treasury, and other entities, the delivering party is responsible for managing and storing information on the newly printed serial numbers that have been exported to these entities.
Circular 01/2024/TT-NHNN comes into force from May 14, 2024
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